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Brazil and India have signed a new agreement to deepen cooperation on rare earths and critical minerals, as both countries seek to strengthen supply chains and reduce reliance on trading partners.

The non-binding memorandum of understanding, sealed Saturday (February 21) during Brazilian President Luiz Inácio Lula da Silva’s state visit to India, establishes a framework for collaboration on reciprocal investment, exploration, and mining.

“Increasing investments and cooperation in matters of renewable energy and critical minerals is at the core of a pioneering agreement that we have signed today,” Lula told journalists.

Rare earth elements are essential inputs for a range of advanced technologies, including smartphones, electric vehicles, solar panels and jet engines. Brazil holds the world’s second-largest reserves of rare earth minerals, giving it strategic importance as governments look to diversify supply chains.

Despite this, China still maintains roughly 70 percent of global rare earth mining and an even stronger position in processing. Countries across the Global South and industrialized economies alike have stepped up efforts to secure alternative sources of supply.

India, like Brazil, is a founding member of the expanded BRICS+ bloc of developing nations, and both governments have emphasized the need to build stronger South-South partnerships.

Brazil’s push to elevate rare earths in its diplomatic agenda gained momentum last year amid tensions with the US. Last year, US President Donald Trump imposed a 50 percent tariff on Brazilian exports in connection with the trial of former President Jair Bolsonaro, an ally of Trump.

The US later removed most of the tariffs and lifted sanctions imposed on the judge overseeing the case.

The Brazil-India accord also continues an ongoing global scramble for critical minerals.

Since last year, the US has signed agreements with Japan and Australia aimed at securing supplies of rare earths, lithium, cobalt, and nickel, with an emphasis on building processing capacity outside China.

For Brazil, the deal with India could serve as a testing ground ahead of potential negotiations with larger powers. Lula is expected to visit Washington in the coming months.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Lahontan Gold Corp. (TSXV:LG,OTC:LGCXF, OTCQB:LGCXF, FSE:Y2F)  (the ‘Company’ or ‘Lahontan’) is pleased to announce the final analytical results from our 2025 maiden drilling program at the Company’s satellite West Santa Fe project, located only 13 km from Lahontan’s flagship asset, the Santa Fe Mine project, in Nevada’s prolific Walker Lane. The assay results are from the final reverse-circulation rotary (‘RC’) drill are summarized below:

  • WSF25-04R: 36.6 metres (0.0 – 36.6m) grading 3.11 g/t Au Eq including 10.7 metres (1.5 – 12.2m) grading 5.75 g/t Au Eq from the surface, all oxide.  The drill hole emphasizes the high gold and silver grades associated with the South Zone at West Santa Fe.
    • Also included in the intercept is a second high grade zone: 12.2m (22.9 – 35.1m) grading 3.67 g/t Au Eq.
    • Individual intercepts range up to 12.04 g/t Au Eq (1.52m, 27.43 – 28.96m, 4.48 g/t Au, 648 g/t Ag).
    • The grade and geometry of these intercepts correlate well with adjacent historic drill holes, further validating the historic drill hole database (please see cross section below).

Close-up of high-grade gold mineralization with quartz veining in oxidized rock

Notes: Au Eq equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating Au Eq is adjusted to consider estimated metallurgical recovery reported by Kappes Cassiday (1982). True thickness of the intercepts is estimated to be 75-90% of the drilled interval. Numbers may not total precisely due to rounding.

Historic drilling, coupled with the 2025 Lahontan RC drilling, defines a gold and silver mineralized zone with a surface expression of 500 by 350 metres with a true thickness from 35 to over 60 metres. With oxide mineralization starting at the surface, there is good potential to exploit this system utilizing low-cost open pit mining and heap-leach processing.

Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented: ‘The robust assay results from WSF25-04R confirm the high-grade core of the South Zone as defined by historic drilling and underground mine workings. We are continuing to model the West Santa Fe system to better understand the geology and geometry of gold and silver mineralization. The geologic team is also fine-tuning a follow-up RC drilling campaign to commence in Spring. Previous field work, including geologic mapping, rock-chip sampling, and airborne magnetic surveys, confirms that the hydrothermal system at West Santa Fe extends at least 1,000 metres east of the main zone of gold and silver mineralization defined by Lahontan and historic drilling (please Lahontan Gold press release dated June 18, 2024). This possible extension of the main mineralized zone, plus untested down-dip extensions of gold and silver mineralization, will be the key targets of the Spring drilling campaign. West Santa Fe continues to be an exciting new exploration target for the Company, one with excellent potential to add important shallow, oxide gold and silver resource ounces to Lahontan’s mineral resource ledger.’

Cross section of WSF25-04R drill hole showing near-surface oxide gold mineralization at West Santa Fe

Cross section through drill hole WSF25-04R, West Santa Fe project, Nevada. The results from this drill hole are very similar to historic drilling, in both the grade of gold mineralization and the geometry of the system. Mineralization remains open down-dip to the north-northwest. Note the outcropping nature of the oxidized gold and silver mineralization.

Map showing drill hole WSF25-04R location and mineralized zone at West Santa Fe Nevada

Drill hole location map for WSF25-04R, West Santa Fe Project, Nevada. The surface projection of known mineralization, based on historic drilling, is shown in red, an area of 350 by 500 metres, is now confirmed by Lahontan drilling. 

RC drill cuttings showing oxidized limestone and quartz veining from West Santa Fe gold project

Photo of RC drill cutting from drill hole WSF25-04R, West Santa Fe project, Nevada. The high-grade gold and silver mineralized zones are characterized by thoroughly oxidized limestone. Silicification accompanied by quartz veining is seen in the highest-grade areas (see inset photo above).

Gold and silver mineralization at West Santa Fe is hosted by Triassic age limestone of the Pamlico Formation. The balance of this rock unit is siliceous volcanic and volcaniclastic rock, a strong chemical contrast to the highly reactive carbonate rock, thus mineralization is strongly controlled by stratigraphy. On a detailed scale, higher gold and silver grades are associated with abundant goethite, hematite, and silver halides such as cerargyrite and embolite. While silicification and quartz veining are important hydrothermal alteration features, abundant calcite veining usually accompanies the mineralized intervals.

Brian J. Maher, Lahontan Vice President – Exploration and Founder commented: ‘The maiden RC drilling campaign at West Santa Fe has been very successful. The geologic setting and mineralogy observed in outcrop and drill holes help explain the good gold and silver recoveries reported previously (Kappes Cassiday, 1982): Thoroughly oxidized horizons accompanied by silver halides. The next phase of exploration at West Santa Fe will focus on testing the eastern extension of the main mineralized zone and exploring down-dip from the main mineralized zone where folding may duplicate the hydrothermal system to the north. Exciting early success with opportunities to significantly expand the size and volume of the gold and silver mineralized system.’

QA/QC Protocols

Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM’s were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.

The standards utilized include three gold CRM’s and one blank CRM that were purchased from MEG, LLC of Lamoille, Nevada (formerly Shea Clark Smith Laboratories of Reno, Nevada). Expected gold values are 0.188 g/t, 1.107 g/t, 10.188 g/t, and -0.005 g/t, respectively. CRM’s with similar grades are inserted as the initial CRM’s run out. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 g/t.

As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 – 30.48m) mark and labeled with a ‘D’ suffix on the sample bag. No duplicates were submitted for core.

All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (g/t).

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 28.3 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and continue drilling the West Santa Fe project during 2026. For more information, please visit our website: www.lahontangoldcorp.com

* Please see the ‘Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project’, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%. 

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a ‘Qualified Person’ as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors 

Kimberly Ann

Founder, Chair, CEO, President, and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.

Kimberly Ann

Founder, Chair, Chief Executive Officer, President, Director

Phone: 1-530-414-4400 

Email: Kimberly.ann@lahontangoldcorp.com

Website: www.lahontangoldcorp.com

_________________________________________________________

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a32c87e8-be93-4868-b2c8-152aceba3c00
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Rio Silver Inc. (‘Rio Silver’ or the ‘Company’) (TSX-V: RYO | OTC: RYOOF) is pleased to invite current and prospective investors to meet with management at the Prospectors & Developers Association of Canada (PDAC) Convention 2026, the foremost global mining and mineral exploration conference.

The PDAC Convention 2026 will be held at the Metro Toronto Convention Centre, South Building, located at 222 Bremner Blvd, Toronto, Ontario.

Rio Silver will be exhibiting at Booth 3013 and welcomes shareholders, institutional investors, analysts, and industry participants to connect directly with management during the conference.

Event Details:

PDAC 2026 – Metro Toronto Convention Centre, South Building
222 Bremner Blvd, Toronto, Ontario

Sunday, March 1: 10:00 am to 5:00 pm
Monday, March 2: 10:00 am to 5:00 pm
Tuesday, March 3: 10:00 am to 5:00 pm
Wednesday, March 4: 9:00 am to 12:00 pm

Investors are encouraged to visit Booth 3013 for a comprehensive update on Rio Silver’s advancement of its silver-dominant Maria Norte Project in Peru.

What Investors Can Expect

Management will be available to discuss:

  • Progress at the silver-dominant Maria Norte Project
  • Recent community authorization milestones
  • Advancing metallurgical programs and processing optimization
  • Access preparation and staged development initiatives
  • District-scale exploration potential

PDAC is globally recognized as the leading gathering of mining companies, capital markets participants, and technical experts. The convention provides a premier forum for direct engagement and in-depth discussion.

‘PDAC is one of the most important gatherings in the global mining industry, and we genuinely look forward to meeting with shareholders, prospective investors, and industry participants in person,’ said Chris Verrico, President and Chief Executive Officer of Rio Silver. ‘We are excited to share the progress we’ve made at Maria Norte, outline our clear path forward, and discuss the opportunity we see in advancing a silver-dominant project within a proven mining district. We welcome anyone attending PDAC to visit us and connect directly with our team.’

Why This Matters to Investors

As Rio Silver advances its high-grade, silver-dominant asset in Peru, maintaining strong engagement with the global mining investment community remains a core part of the Company’s capital markets strategy. PDAC 2026 provides an important opportunity to broaden awareness, strengthen investor relationships, and communicate execution milestones directly to the market.

We look forward to seeing you there!

For additional information about the PDAC Convention, visit:
https://pdac.ca/convention-2026

About Rio Silver Inc.

Rio Silver Inc. (TSX-V: RYO | OTC: RYOOF) is a Canadian resource company advancing high-grade, silver-dominant assets in Peru, the world’s second-largest silver producer. The Company is focused on near-term development opportunities within proven mineral belts and is supported by a seasoned technical and operational team with deep experience in Peruvian geology, underground mining, and district-scale exploration. With a clear development strategy and a growing portfolio of highly prospective silver assets, Rio Silver is establishing the foundation to become one of Peru’s next emerging silver producers.

Learn more at www.riosilverinc.com

Stay Connected with Rio Silver
Investors and stakeholders are encouraged to follow Rio Silver for the latest company updates, project milestones, and event announcements across the Company’s official social media channels:

    By following Rio Silver’s official channels, investors can stay informed as the Company advances its silver-dominant projects and executes on key development milestones.

    ON BEHALF OF Rio Silver INC.

    Chris Verrico
    Director, President and Chief Executive Officer

    To learn more or engage directly with the Company, please contact:
    Christopher Verrico, President and CEO
    Tel: (604) 762-4448
    Email: chris.verrico@riosilverinc.com
    Website: www.riosilverinc.com

    Cautionary Note Regarding Forward-Looking Information

    This news release contains ‘forward-looking statements’ within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding anticipated development activities, underground access timing, permitting progress, community engagement, processing strategies, and the Company’s ability to advance toward potential production and cash flow. Forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements. Rio Silver undertakes no obligation to update such statements except as required by law.

    Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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    Stallion Uranium Corp. (the ‘Company’ or ‘Stallion’) (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce the completion of an extension to its previous ground gravity survey along the Coyote Corridor, located within the Southwestern Athabasca Basin Joint Venture (‘JV’) Project in partnership with Atha Energy Corp. (TSX-V: SASK).

    The recently completed program represents a direct extension of the Company’s original gravity grid and was designed to expand coverage over gravity responses observed along the margins of the initial survey area. The objective of the extension was to determine whether these edge anomalies form part of a larger, continuous gravity feature associated with the interpreted structural corridor at Coyote.

    Data from the expanded survey is currently undergoing processing, quality control, and preliminary modelling. The Company will provide results once interpretation has been completed.

    Highlights:

    • Significant gravity low anomaly identified, closely resembling the geophysical signatures of NexGen Energy’s Arrow Deposit and other significant discoveries in the Athabasca Basin
    • Structural and geophysical features align with those of the Arrow Deposit and PCE discovery, reinforcing the potential for Tier-1 uranium mineralization
    • Gravity anomaly located in a structurally complex corridor, characterized by intersecting conductors and breaks, which are prime settings for uranium deposition
    • Ongoing 3D Inversion of Ground Gravity to identify depth and shape of the gravity anomaly

    ‘The completion of this gravity extension is an important step in systematically advancing the Coyote Target,’ said Matthew Schwab, CEO of Stallion Uranium. ‘Expanding the grid ensures we fully evaluate gravity responses identified at the edges of the initial survey and maintain a disciplined, data-driven approach to exploration.’

    Darren Slugoski, Vice President Exploration, added,

    ‘This extension allows us to properly assess the continuity of gravity features along the structural corridor before finalizing drill targeting. With data processing underway and a potential eastern grid about to commence, we continue to build a comprehensive geophysical dataset across the broader Coyote trend.’

    Figure 1

    Figure 1: Ground Gravity Survey Location showing Extension of Corridor to the SW

    Survey Extension Overview:

    The gravity survey extension increases overall coverage across the Coyote structural corridor and enhances density control along strike and across interpreted conductive breaks. The combined original and extended grid now provides improved resolution of subsurface density variations that may be associated with alteration and basement structural complexity.

    Gravity surveys are a key component of Stallion’s integrated exploration approach, as gravity lows within the Athabasca Basin are commonly associated with hydrothermal alteration systems developed along graphitic basement structures.

    The survey encompassed a total area of 2,097 hectares, with 2,226 gravity stations strategically placed to detect subsurface variations in density that may indicate uranium alteration. The results revealed a substantial gravity low anomaly, a hallmark feature associated with large-scale uranium deposits, such as NexGen Energy’s Arrow Deposit. The Arrow Deposit, one of the most significant uranium discoveries in the Athabasca Basin, shares multiple geological and geophysical similarities with the Coyote Target, strengthening confidence in the potential for a high-grade uranium discovery.

    Phase 1 2026 Drilling Stages

    Figure 2: Phase 1 2026 Drilling Stages

    TDEM Plate Traces Over Ground Gravity Inversion (-25m asl)

    About the Ground Gravity Survey:

    Concluding February 10, 2026, MWH Geo-Surveys (Canada) Ltd. carried out a gravity survey at the Coyote Target in Saskatchewan. The survey utilized a customized L&R digital, electronic feedback gravity meter, operated via proprietary controller software. These advanced gravity meters, incorporating electronic levels and electronic nulling, ensure fast, accurate, and reliable readings, particularly in cold-weather conditions.

    At each gravity station, GControl software, developed by MWH Geo-Surveys, recorded gravity samples at 1-second intervals. The resultant average of these readings was used as the final gravity measurement, significantly reducing high-frequency noise caused by wind and ground motion. Additionally, GControl calculated real-time, location-specific tidal corrections during data collection, enhancing the accuracy and reliability of the survey results.

    With a typical mean data accuracy of 0.02 mgals, MWH Geo-Surveys continues to set the standard for high-resolution gravity surveys, delivering reliable results for resource exploration and geophysical studies.

    Qualifying Statement:

    The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed and approved by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.

    About Stallion Uranium Corp.:

    Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly 1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones. With a commitment to responsible exploration and cutting-edge technology such as the use of the proprietary Haystack TI technology, Stallion is positioned to play a key role in the future of clean energy.

    Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com.

    On Behalf of the Board of Stallion Uranium Corp.:

    Matthew Schwab
    CEO and Director

    Corporate Office:
    700 – 838 West Hastings Street,
    Vancouver, British Columbia,
    V6C 0A6

    T: 604-551-2360
    info@stallionuranium.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, ‘forward-looking statements’) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ‘will likely result’, ‘are expected to’, ‘expects’, ‘will continue’, ‘is anticipated’, ‘anticipates’, ‘believes’, ‘estimated’, ‘intends’, ‘plans’, ‘forecast’, ‘projection’, ‘strategy’, ‘objective’ and ‘outlook’) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.

    Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.

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    Gold Runner Exploration Inc. (CSE: GRUN) (FSE: CE70) (‘Gold Runner’ or the ‘Company’) is pleased to announce that the Canadian Securities Exchange has approved Gold Runner’s Option Agreement, dated January 21, 2026 as amended January 26, 2026, with the B-ALL Syndicate Ltd. (‘B-All’ or the ‘Optionor’) to acquire a 100% interest in the Golden Girl Property (‘Golden Girl Property’, ‘Golden Girl’ or ‘Property), from the B-ALL Syndicate, the same team that generated and staked Goliath Resources (TSXV: GOT) Surebet Discovery and contributed to advancing that discovery to where it is today. The B-ALL Syndicate also generated and staked the Big One discovery that was subsequently optioned to Juggernaut Exploration (TSXV: JUGR,OTC:JUGRF) and is situated adjacent to Galore Creek. Golden Girl is located approximately mid-way between Goliath’s Surebet Discovery and Juggernaut’s Big One discovery.

    As described in the Company’s news release dated January 23, 2026, the Golden Girl property covers an area of 8,471 hectares (ha) in the Iskut River region of Northwestern British Columbia, just 17 kilometers from the Snip Mine and 14 kilometers from the Bronson Airstrip. Exploration conducted by B-ALL on the Golden Girl property identified a large new gold-silver system measuring 12 km by 7 km. The system features a gold-rich core surrounded by a silver-rich halo. Highlights from the 2024 exploration program include grab samples assaying up to 11.28 g/t Au, 3,262 g/t Ag, 5.37% Cu, 20% Pb, and 14.15% Zn, and channel cuts assaying up to 3.74 g/t Au, 2105.45 g/t Ag, 0.88% Cu, 5.48% Pb, and 7.42% Zn.

    The nearby, past-producing Snip Gold Mine, historically produced approximately 1 million ounces of gold, 390,000 ounces of silver, and 249,276 kilograms of copper (at an average 127.5 grams per ton gold over 8 years). Eskay Creek, which lies approximately 60 km east of Golden Girl, produced approximately 3.3 million ounces of gold and 160,000 ounces of silver between 1994 and 2008 (with an estimated 3.3 million ounces of gold, 88 million ounces of silver in reserves). It should be noted that Eskay Creek Mine has recently been permitted to re-commence mining operations – see Skeena Resources Ltd. news releases dated January 28, 2026, and February 3, 2026. The reader is reminded that the information provided herein from neighbouring projects and properties is not necessarily indicative of resources and should not be relied upon for the determination of mineralization or potential results of the Company’s properties.

    Cannot view this image? Visit: https://images.newsfilecorp.com/files/7042/284925_c57b3fc9b4d3a962_002.jpg

    Figure 1

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    High-grade mineralization at Golden Girl occurs in structurally controlled shear zones within sulphide-rich veins, stockwork, and breccias, similar to the nearby Snip Gold Mine. Hydrothermal fluids took advantage of pre-existing structures to deposit gold-silver-rich mineralization as well as sulphides such as chalcopyrite, galena, and sphalerite associated with quartz-carbonate-rich veins. Pervasive alteration associated with fluid infiltration is often observed surrounding the zones of strong gold-silver mineralization assaying up to 11.28 g/t Au, 3,262 g/t Ag, 5.37% Cu, 20% Pb, and 14.15% Zn and channel cuts assaying up to 3.74 g/t Au, 2105.45 g/t Ag, 0.88% Cu, 5.48% Pb and 7.42% Zn.

    More than 95% of the Golden Girl property remains unexplored. Rapid glacial retreat and snowpack abatement over the last 35 years have revealed vast areas of new outcrop that have never seen historical surface exploration. Gold Runner has begun planning and scheduling of prospecting, sampling, and mapping, as well as detailed geophysical surveys over the property during the current exploration season in preparation for the inaugural drill program.

    Pursuant to the terms of the Option Agreement, the Company has paid the initial option fee of $250,000. And the Company has also issued to the members of the B-ALL Syndicate, an aggregate of 1,830,000 common shares at a price of $1.13 per common share plus 1,830,000 common share purchase warrants exercisable within 5 years from the date of issuance at an exercise price of $1.14 per common share. The securities issued hereunder are subject to the requisite four-month and one-day hold period from the date of issuance. The parties to the Option Agreement are arm’s length.

    Chris Wensley, CEO of Gold Runner, states, ‘We are now fully funded to undertake and complete the 2026 exploration program on Golden Girl. Preparations are already underway to begin expanding on the excellent work done by the B-ALL Syndicate team, who generated Golden Girl. We are on schedule to commence this vital and much-anticipated field work by July 2026 and define our maiden drill program for the following season. This is a tremendously exciting time for the Company and our team. We look forward to executing and delivering on our plan and bringing notable results to our shareholders.’

    On Behalf of the Board of Directors,

    ‘Chris Wensley’
    Chris Wensley, Chief Executive Officer and Director

    Qualified Person

    This News Release has been approved by Alan Morris, M.Sc., CPG #10550. Alan J. Morris is an independent, Qualified Person as defined by NI 43-101 and has reviewed the scientific and technical disclosure included in this news release.

    About Gold Runner Exploration Inc.

    Gold Runner Exploration is an exploration company focused on the exploration and development of its portfolio of gold and silver properties located in prolific mining districts of Canada and the United States of America. In British Columbia, Gold Runner holds the option to acquire a 100% interest in the Golden Girl Property, located in the prolific Golden Triangle of Northwestern British Columbia. In North Central Nevada, the Company holds the Rock Creek gold project, the Falcon Mine project and the Dry Creek project, located in the Tuscarora Mountains in close proximity to the world-renowned Carlin Trend. Gold Runner also holds a 10% carried interest in the Cimarron project located in the San Antonio Mountains of Nye County, Nevada, within the Walker Lane Trend.

    About B-ALL Syndicate Ltd.

    The B-ALL Syndicate is a highly specialized geologic team of project generators with a proven track record of success. The Syndicate is focused in unexplored areas of glacial and snowpack retreat providing new opportunity for material discovery in renowned geologic terrain. Projects generated by the same team include Goliath Resources’ Surebet discovery on the Golddigger Property, Juggernaut Exploration’s Big One discovery as well as multiple additional material discoveries. More information is available at https://www.ball-syndicate.com/.

    For further information please contact

    Chris Wensley, Chief Executive Officer and Director
    639 5th Ave, Suite 1250
    Calgary, Alberta T2P 0L3
    Website: www.goldrunnerexploration.com
    Email: info@goldrunnerexploration.com

    Forward-Looking Information

    This news release includes certain information that may be deemed ‘forward-looking information’ under applicable securities laws. All statements in this release, other than statements of historical facts, including but not limited to those that address the Property and future and/or possible work thereon, mineral resource and reserve potential, exploration activities and corporate initiatives. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company’s filings with the Canadian securities authorities.

    Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedarplus.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

    NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

    Corporate Logo

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284925

    News Provided by TMX Newsfile via QuoteMedia

    This post appeared first on investingnews.com

    Here’s a quick recap of the crypto landscape for Monday (February 23) as of 9:00 p.m. UTC.

    Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

    Bitcoin (BTC) was priced at US$64,409.84, down by 4.4 percent over the last 24 hours.

    Bitcoin price performance, February 23, 2026.

    Bitcoin price performance, February 23, 2026.

    Chart via TradingView.

    XS.com senior market analyst Linh Tran suggested that the medium-term uptrend is limited without major catalysts. She predicts that Bitcoin will fluctuate between US$65,000 support and US$70,000 resistance; however, if current pressures persist, there is a risk of Bitcoin retesting the US$60,000 low, which could trigger a deeper decline.

    Software stocks slipped alongside a further decline in crypto prices after Anthropic said its Claude platform can help ‘break the cost barrier to COBOL modernization,’ a high-level, compiled computer programming language that the firm says ‘runs in production every day, powering critical systems in finance, airlines, and government.’

    Ether (ETH) was priced at US$1,860.34, down by 4.1 percent over the last 24 hours.

    Altcoin price update

    • XRP (XRP) was priced at US$1.36, down by 2 percent over 24 hours.
    • Solana (SOL) was trading at US$78.37, down by 5.6 percent over 24 hours.

    Today’s crypto news to know

    Yield Basis thrives on market volatility

    Some parts of the DeFi ecosystem have benefited from the chaos of Bitcoin’s sudden price drop in January, which liquidated billions of dollars’ worth of positions. A DeFi project called Yield Basis, which helps people trade Bitcoin and Ether through its liquidity pools, says it’s handled US$769 million in trades since the beginning of 2026, with more than half occurring after January 28, when crypto prices began swinging wildly.

    According to a recent report, the protocol has collected US$12.15 million in fees since it launched its v2 pools in November 2025, compared to US$5.31 million worth of tokens it paid out as rewards, leaving about US$6.84 million in net profit for the users providing liquidity and holding the project’s tokens.

    Open-source AI project distances itself from crypto

    An open-source AI agent framework known as OpenClaw has inadvertently become the center of a crypto controversy. The project, built to power autonomous agents capable of browsing the web and executing complex tasks, was briefly rebranded amid a naming dispute before scammers launched a fake Solana-based token using its former branding.

    The token’s market capitalization surged to roughly US$16 million within hours before collapsing more than 90 percent after developer Peter Steinberger disavowed any connection.

    Steinberger publicly rejected the speculation, writing on X: “To all crypto folks: please stop pinging me, stop harassing me. I will never do a coin. Any project that lists me as coin owner is a SCAM.”

    USDT contraction flashes rare stress signal

    Tether’s USDT stablecoin is signaling liquidity strain reminiscent of the market turmoil following the FTX collapse.

    According to CryptoQuant, the 60 day change in USDT supply has dropped to negative US$3 billion, which marks only the second time such a contraction has occurred. Bloomberg reported that USDT is on pace for its steepest monthly supply decline since December 2022, already shrinking by roughly US$1.5 billion in February alone.

    Large-scale redemptions typically suggest institutions or major holders are pulling capital out of the crypto ecosystem rather than simply rotating between tokens. The last comparable contraction came as Bitcoin fell toward US$16,000 during the FTX crisis before stabilizing and beginning a multi-year recovery.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    The era of “smooth globalization” is over, and mining is entering a more fragmented, politically charged phase defined by strategic nationalism, according to speakers at S&P Global’s latest webinar.

    Jason Holden, who opened the “State of the Market: Mining Q4 2025” session with a macro overview, said the industry is operating in a world increasingly shaped by supply chain security and state intervention.

    “For decades we operated under a model of frictionless trade,” said Holden, a senior mining analyst at the firm. “That era is over. We’ve entered a world of strategic re-nationalization.”

    While the base economic outlook remains resilient, with moderate growth and easing headline inflation, Holden warned that “sticky core inflation remains stubbornly high.”

    For mining companies, that has two major implications: higher capital costs and less room for the easy-money valuation surges seen in past cycles. Central banks, led by the US Federal Reserve, are no longer aggressively tightening, but are also not on a clear-cut path to interest rate cuts.

    “We’re no longer on a predictable path of easing,” Holden explained to listeners. “The market is now focused on if and when cuts might resume.” At the same time, geopolitical disputes are increasingly spilling into trade policy. The conversation around critical minerals, he noted, has shifted decisively.

    “It’s no longer just about economics,’ said Holden. “It’s explicitly framed as national security.”

    That shift is driving greater government intervention, subsidies, capital screening and “friend-shoring,” where materials are sourced from politically aligned nations.

    Gold’s insurance premium

    Nowhere has geopolitical risk been more visible than in gold.

    The metal surged to fresh highs in early 2026 after setting 40 new records in 2024 and 53 more in 2025, a pace not seen since 1979. The price briefly pushed beyond US$5,500 per ounce at the start of the year.

    “The message from this price action is unmistakable,” Holden said. “In an uncertain world, the market is paying a premium for insurance, and gold is the ultimate safe asset.”

    While short-term flashpoints helped fuel the rally, the structural driver has been central bank buying. Since sanctions in 2022 prompted reserve managers to rethink US dollar exposure, official sector purchases have accelerated.

    “The sustained buying from central banks is the real engine behind the rally,” Holden said.

    S&P’s base case sees gold averaging US$4,247 per ounce in 2026, with upside potential toward US$6,000 by 2027 in a more bullish scenario.

    Copper tightness, nickel politics

    Luiz Amaral from S&P’s exploration team said copper ended 2025 on strong footing, with London Metal Exchange (LME) prices reaching US$12,500 per metric ton in December.

    Supply-side tightness, a weaker US dollar and copper’s growing role in electrification supported prices. The US decision to formally list copper as a critical mineral reinforced its strategic importance.

    S&P has lifted its 2026 copper price forecast to US$11,400 per metric ton, projecting a 543,000 metric ton concentrate deficit next year. However, the refined market is expected to move into surplus later in the decade as new smelter capacity ramps up. Longer term, the concentrate picture darkens again.

    “Our base case shows a 3 million metric ton shortfall by 2036,” Amaral said.

    Nickel’s recent rally, by contrast, has been driven more by policy than fundamentals. The price broke above US$18,000 per metric ton in January after Indonesia reduced its 2026 production quota.

    “The market is responding emotionally to policy updates,” Amaral said, noting that despite the rally, the broader market remains in surplus and LME inventories are building.

    Lithium rebounds amid persistent surplus

    Lithium prices have also staged a sharp rebound, rising 57 percent in China between mid-December and mid-January on renewed demand optimism and supply concerns. Yet S&P expects the market to remain oversupplied for most of the decade, with deficits not emerging until the early 2030s.

    New supply from Australia, Latin America and China continues to outpace demand growth, even as electric vehicles account for roughly 75 percent of lithium consumption through 2035.

    Diverging margins

    At the mine level, gold producers are enjoying some of the strongest margins in years, with prices rising faster than all-in sustaining costs. Silver has outperformed even more dramatically, climbing 154 percent in 2025 versus gold’s 71 percent gain, compressing the gold-silver ratio to below 70.

    Battery metals face a tougher backdrop.

    “Lithium and nickel continue to face margin pressure as prices lag elevated costs amid oversupply,” said Monica Ramirez from S&P’s mine economics and emissions team.

    Across 12 metals analyzed, S&P sees a structurally higher cost environment emerging due to inflation, energy expenses and maturing ore bodies. Precious metals retain the strongest buffers, while copper remains positive but increasingly sensitive at the upper end of the cost curve.

    Exploration at a crossroads

    Despite record prices in some commodities, exploration spending tells a more cautious story.

    Global exploration budgets totaled US$12.4 billion in 2025, down 1 percent year-on-year. Adjusted for inflation, spending has slipped back to levels last seen nearly two decades ago.

    “Gold continues to dominate,” Amaral said, accounting for roughly half of global exploration budgets. Lithium, once a standout, saw budgets fall nearly 50 percent amid weaker prices.

    More concerning is the structural shift away from grassroots exploration.

    In the mid-1990s, two-thirds of spending targeted generative programs. Today, that share has fallen to a record low as companies prioritize near-mine and late-stage work.

    “We are underinvesting at the very front end of the supply chain,” Amaral warned. Without renewed grassroots spending, the long-term discovery pipeline could suffer.

    M&A: Quality over quantity

    Mining M&A remained active into late 2025, though deal value normalized after earlier mega-mergers. Transaction value fell 45 percent quarter-on-quarter to US$16.1 billion, but deal count rose to its highest level in more than five years.

    Gold led activity, with buyers focusing on large-scale, long-life assets in low-risk jurisdictions.

    “Gold M&A today is no longer about simple volume growth,” Ramirez emphasized to viewers. “It’s about asset quality, jurisdictional safety and durable cashflow.”

    As the webinar made clear, mining is navigating a landscape defined by geopolitical risk, tighter capital and structural cost pressures. For companies able to secure high-quality assets and control costs, opportunities remain, but the margin for error is narrowing.

    Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Red Mountain Mining Limited (ASX: RMX, US CODE: RMXFF, or “Company”), a Critical Minerals exploration and development company with an established portfolio in Tier-1 Mining Districts in the United States and Australia, is pleased to announce an update on the Company’s portfolio of high-quality Antimony projects in the United States.

    Over the past six months, Red Mountain has moved decisively to acquire assets in Tier-1 regions in highly prospective antimony mineral districts in Montana, Utah and Idaho, USA, placing the Company in a strong strategic position as the US Government moves aggressively to secure domestic supply of Antimony which is classified as a Critical Metal by the United States and Australian Governments.

    HIGHLIGHTS:

    • Red Mountain continues to deliver repeated successful project and development programs across its high-quality Critical Minerals portfolio, systematically advancing its United States and Australian projects toward development and directly supporting the US Government’s drive to secure domestic supply of critical metals

    Thompson Falls Antimony Project, High-grade Antimony next to UAMY Antimony Smelter

    • Thompson Falls Antimony Project is 4.2km from the operations of United States Antimony Corporation (NYSE: UAMY; Market Cap $A1.5 billion), with the country’s only operating Antimony smelter
      • Initial sampling from Red Mountain’s Thompson Falls Project returned high-grade values of up 36.5% Sb and 0.65g/t Au
      • Additional assay results are now expected to be received by the end of February
    • Comprehensive surface mapping and sampling program to fast-track the definition of the Thompsons Falls Antimony Project resource potential, planned to launch next month
    • Red Mountain has recently strengthened its US technical team with dedicated drill-permitting expertise, driving the permitting process forward across all of the Company’s US Projects

    Utah Antimony Project, Antimony Mining District

    • Utah Antimony Project adjoins American Tungsten and Antimony Ltd’s (ASX: AT4; Market cap A$200 million) Antimony Canyon Project (ACP), one of the largest and highest-grade Antimony projects in the USA, which has reported assays of up to 33% Sb and has a defined conceptual Exploration Target of 12.8 to 15.6 Mt @ 0.75% to 1.5% Sb, containing between 96,000 to 234,000 tons of Antimony metal
      • Recent visible stibnite mineralisation observed between AT4’s claims and RMX’s project provides evidence the ACP system may extend into the Utah Antimony Project*
      • Mapping analysis previously undertaken by RMX suggests that both the same type of host rocks and extensions of the large epithermal Antimony mineralising system targeted by AT4 at Antimony Canyon are present within the Utah Antimony Project**

    Exceptionally Strong Antimony results from Thompson Falls and further assays pending

    Red Mountain acquired the Thompson Falls Antimony Project on 5 February1, next to the only operating antimony smelter in the USA, US Antimony Corporation’s (NYSE: UAMY; Market Cap ~AU$1.5 billion) Thompson Falls Smelter and UAMY’s Stibnite Hill Mine in Montana (Figure 1).

    First-pass exploration of Red Mountain’s Thompson Falls Antimony Project, by the Company’s US field team, successfully located three historical underground mines and pit within the project area. Initial sampling of material from Eastern Star returned multiple samples with high antimony and gold results, with peak results of 36.5% Sb and 0.65g/t Au1 (Figure 1; Figure 2).

    Samples collected from Eastern Star closely resemble the quartz-stibnite veins mined at UAMY’s Stibnite Hill deposit, ~7km east of Red Mountain’s Thompson Falls Project area, although these veins are not recorded as producing gold. Red Mountain’s field team also collected additional rock samples from the project area, with assay results expected this month.

    Click here for the full ASX Release

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    Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

    With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

    After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

    Why is copper so expensive in 2026? Higher copper prices over the past few years have largely been attributed to a widening supply/demand gap. Copper mining and refining activities simply haven’t kept up with the rebound in economic activity in recent years, and rising demand from AI infrastructure and electrification are raising demand even higher.

    Now, global copper mine supply is tightening at a time when US President Donald Trump’s tariffs are placing further strains on copper supply. In response, copper prices hit multiple new records in 2025 and 2026.

    In this article

      What key factors drive the price of copper?

      Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.

      Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry, and it’s used in products such as copper pipes and copper wiring. In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and Western economies is expected to support copper prices in the long term.

      In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.

      Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.

      However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.

      New energy vehicles use significantly more copper than internal combustion engine vehicles, which only contain about 22 kilograms of copper. In comparison, hybrid EVs use an average of 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.

      In 2025, EV sales worldwide increased by 20 percent over 2024 to come in at about 20.7 million units, and analysts at Rho Motion expect that trend to continue in the coming years despite some headwinds in the near-term.

      On the supply side of the copper market, the world’s largest copper mines are facing depleting high-grade copper resources, while over the last decade or more new copper discoveries have become few and far between. This is a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production.

      There have also been ongoing production issues at copper mines over the past few years. In late 2023, First Quantum Minerals (TSX:FM,OTCPL:FQVLF) was forced to shut down its Cobre Panama mine by the government following wide-spread protests. Then, in 2025, accidents at Ivanhoe’s (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mine in Mali and Freeport-McMoRan’s (NYSE:FCX) Grasberg mine in Indonesia wiped out hundreds of thousands of metric tons of production.

      While all three mines are expected to return to production, it will take time before they reach full capacity and will continue to exacerbate supply deficits in the copper market.

      The International Energy Agency (IEA) is forecasting a 30 percent shortfall in the amount of copper needed to meet demand by 2035. “This will be a major challenge. It’s time to sound the alarm,” IEA Executive Director Fatih Birol said.

      This has increased the need for end users to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.

      “We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries,’ she said. ‘Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda.’

      Joannides offered some examples of greenfield projects in the pipeline: Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources’ (TSX:TECK.A,TECK.B,NYSE:TECK) Zafranal in Peru.

      How has the copper price moved historically?

      Taking a look back at historical price action, the copper price has had a wild ride for more than two decades.

      Sitting at US$1.38 per pound in late January 2005, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.

      Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 per pound at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.

      Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3 per pound.

      20 year COMEX copper price chart, 2006 to 2026.

      20 year COMEX copper price chart, 2006 to 2026.

      Chart via Macrotrends.

      The pandemic’s impact on mine supply and refined copper in 2020 pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.

      In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 per pound for the first time ever on May 10, 2021, before falling back to close at US$4.76.

      Also affecting the copper price at that time was expectations for higher copper demand amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.

      In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines into 2022 could lead to a copper market deficit.

      After climbing to start 2022 at US$4.52, the copper price continued to spike on economic recovery expectations and supply shortages to reach US$5.02 per pound on March 6. Throughout the first quarter, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.

      However, copper prices pulled back in mid-2022 on worries that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, would slow down construction and infrastructure activity in the Asian nation. Rising inflation and interest hikes by the Fed also placed downward pressure on a wide basket of commodities, including copper. By late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.

      In the early months of 2023 the copper price was trading over the US$4 per pound level after receiving a helpful boost from continuing concerns about low copper inventories, signs of rebounding demand from China, and news about the closure of Peru’s Las Bambas mine, which accounts for 2 percent of global copper production.

      However, that boost turned to a bust in the second half of 2023 as China continued to experience real estate sector issues, alongside the economic woes of the rest of the world. The price of copper dropped to a low for the year of US$3.56 per pound in mid October.

      Elevated supply levels kept copper trading in the US$3.50 to US$3.80 range for much of Q1 2024 before experiencing strong gains that pushed the price of the red metal to US$4.12 on March 18.

      Those gains were attributed to in part to tighter copper concentrate supply following the closure of First Quantum Minerals’ Cobre Panama mine, guidance cuts from Anglo American (LSE:AAL,OTCQX:AAUKF) and declining production at Chile’s Chuquicamata mine. In addition, China’s top copper smelters announced production cuts after limited supply led to lower profits from treatment and refining charges.

      BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) attempted takeover of Anglo American also stoked fears of even tighter global copper mine supply. These supply-side challenges continued to juice copper prices in Q2 2024, causing a jump of nearly 29 percent from US$4.04 per pound on April 1 to a then all-time high of US$5.20 by May 20, 2024.

      After starting 2025 at US$3.99 per pound, copper prices were lifted in Q1 by increasing demand from China’s economic stimulus measures, renewable energy and artificial intelligence (AI) technologies and stockpiling brought on by fear of US President Trump’s tariff threats.

      At the time, Trump had said the US was considering placing tariffs of up to 25 percent on all copper imports in a bid to spark increased domestic production of the base metal.

      In late February, he signed an executive order instructing the US Commerce Department to investigate whether imported copper poses a national security risk under Section 232 of the Trade Expansion Act of 1962. The price of copper reached a new high price of US$5.24 per pound on March 26 as tariff tensions escalated.

      Trump’s tariff talk sparked yet another copper price rally in early July when he announced he plans to impose a 50 percent tariff on all imports of the red metal, and it moved higher towards the end of the month in anticipation of them entering effect. By the end of the month, the copper price had climbed to US$5.96 per pound.

      However, copper’s price plummeted back toward the US$4 mark on July 31 following the reveal that tariffs would not be imposed on imports of raw or refined copper, instead targeting semi-finished copper products.

      The price began to rebound once again in September following the accident at Freeport McMoRan’s Grasberg mine, ultimately tipping the market from a surplus position into a deficit.

      The price crossed back above the US$5 mark by the end of October, and, with supply and demand fundamentals fueling its momentum, copper was trading at US$5.60 by the end of 2025.

      What was the highest price for copper ever?

      The highest ever copper price on the COMEX is US$6.61 per pound, while the highest LME copper price is US$14,572.54 per metric ton. Copper hit both of these new all-time highs on January 29, 2026. Read on to found out how the copper price reached those heights.

      Why did the copper price hit an all-time high in 2026?

      The new copper high on January 29, 2026, resulted from a buying spree driven by speculative trading, primarily out of China amid growing expectations of higher growth in the US economy and an increased global spending on data centers and power infrastructure projects.

      That day, copper prices on the LME jumped 11 percent, although the gain had lessened to a 4 percent jump by the close of trading.

      Looking at the bigger picture, copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand increases from sectors such as EVs and energy storage.

      A May 2024 report from the International Energy Forum (IEF) projected that as many as 194 new copper mines may need to come online by 2050 to support massive demand from the global energy transition.

      Additionally, a January 2026 report from S&P Global stated that the world will need 14 million more metric tons of copper annually to meet demand compared to 2025’s 27 million MT of copper. The firm reports that supply is expected to peak in 2030 without expansion.

      Looking at renewable energy, according to the Copper Development Association, solar installations require about 5.5 MT of copper for every megawatt, while onshore wind turbines require 3.52 MT of copper and offshore wind turbines require 9.56 MT of copper.

      The rise of AI technology is also bolstering the demand outlook for copper. Commodities trader Trafigura has said AI-driven data centers could add 1 million MT to copper demand by 2030, reports Reuters.

      Where can investors look for copper opportunities?

      Copper market fundamentals suggest a return to a bull market cycle for the red metal in the medium-term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.

      If you’re looking to diversify your portfolio with other investment options, check out copper ETFS and ETNs or copper futures contracts.

      Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com